First Fintec Ltd. के अकाउंट के लिये नोट

Mar 31, 2025

14. Provisions and contingencies:

Provisions involving substantial degree estimation in measurement are recognized when there is a present obligation as a result of
past events, and it is probability that there will be an outflow of resources. Contingent liabilities are not recognized but are disclosed in
notes. Contingent assets are neither recognized nor disclosed in the standalone financial statements.

A provision is recognized if, as a result of a past event, the company has a present obligation that can be estimated reliably, and it is
probable that an outflow of economic benefits will be required to settle the obligation. Provisions are recognized at the best estimate of
the expenditure required to settle the present obligation at the balance sheet date. The provisions are measured on an undiscounted
basis.

C. Notes to Financial Statements:

i. Figures have been rounded off to the nearest rupee.

ii. Notes 1 to 19 consists of forming part of Balance Sheet and Profit and Loss account.

iii. All figures are in Rupees. Paise have been rounded to nearest Rupee.

iv. Previous year figures are regrouped and rearranged wherever necessary.

v. In the opinion of the management all current assets including loans and advances would in the normal course of business be
realized to the value stated.

vi. The other accounting policies, which are not specifically mentioned, are in accordance with the generally accepted principles.

Terms / rights attached to fully paid-up equity shares: The company has only one class of equity shares
having par value of Rs. 10 each fully paid-up. Each holder of equity shares is entitled to one vote per share and
entitled to dividends as declared in Annual General Meetings. In the event of winding up, the holder of equity
shares will be entitled to receive remaining assets of the company, after payment of all debts and liabilities
including preferential liabilities. The distribution will be in proportion to the capital paid-up by the
shareholders

(f) Terms / Rights attached to Equity Shares

The Company has one class of equity shares having a par value of Rs. 10 each. Each shareholder is eligible for
onevote per share held. The dividend proposed by the Board of Directors is subject to the approval of the
shareholders in the ensuing Annual General Meeting, except in case of interim dividend. In the event of
liquidation, the equityshareholders are eligible to receive the remaining assets of the Company after distribution of
all preferential amountsin proportion to their shareholding.

Nature and purpose of Other Reserves

a) Capital Redemption Reserve

As per Companies Act, 2013, capital redemption reserve is created when company purchases its own shares out of free
reserves or securities premium. A sum equal to the nominal value of the shares so purchased is transferred to capital
redemption reserve. The reserve is utilised in accordance with the provisions of section 69 of the Companies Act, 2013.

b) Securities Premium Account

Securities Premium Account is used to record the premium on issue of shares. The reserve will be utilised in accordance with
the provisions of The Companies Act, 2013

c) Retained earnings

This reserve represents undistributed accumulated earnings of the Company as on the balance sheet date.

Additional Notes:

1. Corporate information:

First Fintec Limited (“the Company”) is a public limited company domiciled in India and is incorporated under the provisions of
the Companies Act (as amended) applicable in India. The Company was incorporated on 03 March 2000. The Company has
its primary listing on the BSE Limited, India.

The Company is in to new-generation technology-oriented IT/ITES company which is a high-risk and high reward business
segment.

First Fintec Limited''s Corporate Identification Number is (CIN) L72200MH2000PLC239534 and its registration number is
239534. Its Email address is [email protected] and its registered address is 3rd Floor, The Bureau Chambers, Above State
Bank of India, Chembur Naka, Chembur, Mumbai, MH 400071 India.

2. Significant accounting policies

2.1 Statement of compliance

The financial statements are prepared in accordance with and in compliance, in all material aspects, with Indian Accounting
Standards (Ind AS) notified under Section 133 of the Companies Act, 2013 (the “Act”) read along with Companies (Indian
Accounting Standards) Rules, 2015 (as amended), other provisions of the Act& Rules made thereunderand guidelines
issued by the Securities and Exchange Board of India (SEBI).

2.2 Basis of preparation and presentation of financial statements

These financial statements have been prepared on the historical cost basis except for certain financial assets and defined
benefit plans which are measured at fair values at the end of each reporting period. Historical cost is generally based on the
fair value of consideration given in exchange for goods and services.

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between
market participants at the measurement date, regardless of whether that price is directly observable or estimated using
another valuation technique. In estimating the fair value of an asset or liability, the company takes into account the
characteristics of the asset or liability that market participants would take into account when pricing the asset or liability at the
measurement date.

Accounting policies have been consistently applied except where a newly issued accounting standard is initially adopted or a
revision to an existing accounting standard requires a change in the accounting policy hitherto in use.

2.3 Functional and presentation currency:

The financial statements are presenting in Indian Rupees, which is the Company''s functional and presentation currency and
all amounts are rounded off to the nearest Rupee thereof, except for share data or otherwise stated.

2.4 Classification of assets and liabilities as current and non-current:

The Company presents assets and liabilities in the balance sheet based on current / non- current classification. An asset is
treated as current when it is:

• Expected to be realised or intended to be sold or consumed in normal operating cycle

• Held primarily for the purpose of trading

• Expected to be realised within twelve months after the reporting period, or

• Cash or cash equivalent unless restricted from being exchanged or used to settle a liability for at least twelve months after
the reporting period

All other assets are classified as non-current.

A liability is current when:

• It is expected to be settled in normal operating cycle

• It is held primarily for the purpose of trading

• It is due to be settled within twelve months after the reporting period, or

• There is no unconditional right to defer the settlement of the liability for at least twelve months after the reportingperiod.

• There is no unconditional right to defer the settlement of the liability for at least twelve months after the reportingperiod.
The Company classifies all other liabilities as non-current.

Deferred tax assets and liabilities are classified as non-current assets and liabilities. The operating cycle is the time between
the acquisition of assets for processing and their realisation in cash and cash equivalents. The Company has identified twelve
months as its operating cycle.

2.5 Fair value measurement

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between
market participants at the measurement date, regardless of whether that price is directly observable or estimated using
another valuation technique. In estimating the fair value of an asset or a liability, the Company takes into account the
characteristics of the asset or liability if market participants would take those characteristics into account when pricing the
asset or liability at the measurement date. Fair value for measurement and/or disclosure purposes in these financial
statements is determined on such a basis, except for net realizable value in Ind AS 2 or value in use in Ind AS 36 that has some
similarities to fair value but are not fair value.

• Level 1 — Quoted (unadjusted) market prices in active markets for identical assets or liabilities

• Level 2 —Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly
or indirectly observable

• Level 3 —Valuation techniques for which the lowest level input that is significant to the fair value measurement is
unobservable

For assets and liabilities that are recognised in the financial statements on a recurring basis, the Company determines
whether transfers have occurred between levels in the hierarchy by re-assessing categorisation (based on the lowest level
input that is significant to the fair value measurement as a whole) at the end of each reporting period.

For the purpose of fair value disclosures, the Company has determined classes of assets and liabilities on the basis of the
nature, characteristics and risks of the asset or liability and the level of the fair value hierarchy as explained above.

This note summarizes accounting policy for fair value. Other fair value related disclosures are given in the relevant notes.

2.6 Inventories

Inventories which comprise raw materials, finished goods and stock-in-trade are carried at the lower of cost and net realizable
value. Cost of inventories comprises cost of purchases, cost of conversion, all non-refundable duties & taxes and other costs
incurred in bringing the inventories to their present location and condition. In determining cost “First in First out” method is
used.

Net realizable value is the estimated selling price in the ordinary course of business, less the estimated costs of completion
and other costs necessary to make the sale.

Raw material and other supplies held for use in production of inventories are not written down below cost, except in cases
where material price have declined and it is estimated that the cost of the finished products will exceed their net realizable
value.

2.7 Cash and cash equivalents

Cash comprises cash on hand, in bank and demand deposits with banks. Cash equivalents are short-term balances (with an
original maturity of three months or less from the date of acquisition), highly liquid investments that are readily convertible into
known amounts of cash and which are subject to insignificant risk of changes in value.

2.8 Cash flow statement

Cash flows are reported using the indirect method, whereby profit / (loss) before tax is adjusted for the effects of transactions
of non-cash nature, any deferrals or accruals of past or future operating cash receipts or payments and item of income or
expenses associated with investing or financing cash flows. The cash flows from operating, investing and financing activities
of the Company are segregated.

2.9 Significant accounting judgements, estimates and assumptions

The preparation of the Company''s separate financial statements requires management to make judgements, estimates and
assumptions that affect the reported amounts of revenues, expenses, assets and liabilities, and the accompanying
disclosures, and the disclosure of contingent liabilities. Uncertainty about these assumptions and estimates could result in
outcomes that require a material adjustment to the carrying amount of assets or liabilities affected in future periods.
Difference between actual results and estimates are recognised in the periods in which the results are known / materialised.

Estimates and assumptions:

The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date, that have a
significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year,
are described below. The Company has based its assumptions and estimates on parameters available when the financial
statements were prepared. Existing circumstances and assumptions about future developments, however, may change due
to market changes or circumstances arising that are beyond the control of the Company. Such changes are reflected in the
assumptions when they occur.

The areas involving critical estimates or judgement are:

a. Useful lives of Tangibles and Intangible including Property, Plant & Equipment if any,

The Company uses its technical expertise along with historical and industry trends for determining the economic life of an
asset / component of an asset. The useful lives are reviewed by management periodically and revised, if appropriate. In case
of a revision, the unamortised depreciable amount is charged over the remaining useful life of the assets.

b. Inventory write down

The Company reviews the allowance for defective and obsolete items of inventory, wherever necessary at the end of each
reporting period

c. Estimation of tax expenses, utilisation of deferred tax assets (including MAT credit) and tax payable

The Company reviews the carrying amount of tax expenses, deferred tax assets (including MAT credit) and tax payable at the
end of each reporting period.

d. Probable outcome of matters included under Contingent Liabilities

Management has estimated the possible outflow of resources at the end of each annual reporting financial year, if any, in
respect of contingencies/ litigations against the Company as it is not possible to predict the outcome of pending matters with
accuracy.

e. Allowance for doubtful trade receivables

Trade receivables do not carry any interest and are stated at their nominal value as reduced by appropriate allowances for
estimated irrecoverable amounts. Under Ind AS, impairment allowance has been determined based on Expected Credit Loss
(ECL) model. Estimated irrecoverable amounts are based on the ageing of the receivable balance and historical experience.
Individual trade receivables are written off if the same are not collectible.

2.10 Taxes
Current tax

Current income taxes are measured at the amount expected to be recovered from or paid to the taxation authorities. The tax
rates and tax laws used to compute the amount are those that are enacted by the end of the reporting period.

Current income tax relating to items recognised outside profit or loss are recognised outside profit or loss (i.e in other
comprehensive income). Current tax items are recognised in correlation to the underlying transaction. Management
periodically evaluates positions taken in the tax returns with respect to situations in which applicable tax regulations are
subject to interpretation and establishes provisions where appropriate.

Deferred tax

Deferred tax is provided using the liability method on temporary differences between the tax bases of assets and liabilities and
their carrying amounts for financial reporting purposes at the reporting date. Deferred tax is recognised on temporary
differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases
used in the computation of taxable profit. Deferred tax liabilities are recognised for all taxable temporary differences. Deferred

tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits
will be available against which those deductible temporary differences can be utilised. Such deferred tax assets and liabilities
are not recognised if the temporary difference arises from the initial recognition of assets and liabilities in a transaction that
affects neither the taxable profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is
no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be utilised.

Unrecognised deferred tax assets are re-assessed at each reporting date and are recognised to the extent that it has become
probable that future taxable profits will allow the deferred tax asset to be recovered.

Deferred tax liabilities and assets are measured at the tax rates that are expected to apply in the period in which the liability is
settled or the asset realised, based on tax rates (and tax laws) that have been enacted orsubstantively enacted by the end of
the reporting period.

Deferred tax relating to items recognised outside profit or loss is recognised outside profit or loss. Deferred tax items are
recognised in correlation to the underlying transaction in OCI or equity.

The measurement of deferred tax liabilities and assets reflects the tax consequences that would follow from the manner in
which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and
liabilities.

Current and/or deferred tax for the year

Current and/or deferred tax as applicable are recognised in statement of profit or loss, except when they relate to items that are
recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax are also
recognised in other comprehensive income or directly in equity respectively.

2.11 Impairment of non-financial assets

The Company assesses, at each reporting date, whether there is an indication that an asset may be impaired. If any
indication exists, or when annual impairment testing for an asset is required, the Company estimates the asset''s recoverable
amount. An asset''s recoverable amount is the higher of an asset''s or cash-generating units (CGU) fair value less costs of
disposal and its value in use. Recoverable amount is determined for an individual asset, unless the asset does not generate
cash inflows that are largely independent of those from other assets or group of assets. When the carrying amount of an asset
or CGU exceeds its recoverable amount, the asset is considered impaired and is written down to its recoverable amount.

In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate
that reflects current market assessments of the time value of money and the risks specific to the asset. In determining fair
value less costs of disposal, recent market transactions are taken into account. If no such transactions can be identified, an
appropriate valuation model is used. These calculations are corroborated by valuation multiples, quoted share prices for
publicly traded companies or other available fair value indicators.

The Company bases its impairment calculation on detailed budgets and forecast calculations, which are prepared separately
for each of the Company''s CGUs to which the individual assets are allocated. These budgets and forecast calculations
generally cover a period of five years. For longer periods, a long-term growth rate is calculated and applied to project future
cash flows after the fifth year. To estimate cash flow projections beyond periods covered by the most recent
budgets/forecasts, the Company extrapolates cash flow projections in the budget using a steady or declining growth rate for
subsequent years, unless an increasing rate can be justified. In any case, this growth rate does not exceed the long-term
average growth rate for the products, industries, or country or countries in which the entity operates, or for the market in which
the asset is used.

Impairment loss of continuing operations, including impairment on inventories is recognised in the Statement of Profit and
Loss.

2.12 Provisions, contingent liabilities and contingent assets

Provisions for legal claims, service warranties, volume discounts and returns are recognised when the Company has a
present legal or constructive obligation as a result of past events, it is probable that an outflow of resources will be required to
settle the obligation and the amount can be reliably estimated. Provisions are not recognised for future operating losses.
Provisions for restructuring are recognised by the Company when it has developed a detailed formal plan for restructuring

and has raised a valid expectation in those affected that the Company will carry out the restructuring by starting to implement
the plan or announcing its main features to those affected by it.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by
considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any
one item included in the same class of obligations may be small. Provisions are measured at the present value of
management''s best estimate of the expenditure required to settle the present obligation at the end of the reporting period. The
discount rate used to determine the present value is a pre-tax rate that reflects current market assessments of the time value
of money and the risks specific to the liability. The increase in the provision due to the passage of time is recognised as interest
expense.

The measurement of provision for restructuring includes only direct expenditures arising from the restructuring, which are
both necessarily entailed by the restructuring and not associated with the ongoing activities of the Company.

Contingent liabilities are disclosed when there is a possible obligation arising from past events the existence of which will be
confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the
company or a present obligation that arises from past events where it is either not probable that an outflow of resources will be
required to settle or a reliable estimate of the amount cannot be made.

Contingent Assets are disclosed, where an inflow of economic benefits is probable.

2.13 Financial instruments

Financial instruments include Financial assets and financial liabilities that are recognized when an entity becomes a party to
the contractual provisions of the instrument. All financial assets are recognized as per the accounting standards as applicable
to each of those instruments.

2.14 Discontinued operations

During the year, there are no transactions relating to Discontinued operations, hence disclosure under Ind AS 105 notified
under the Accounting Standards is not applicable for the current and previous financial year.

2.15 Revenue from contracts with customers

Revenue from contracts with customers is recognised when control of the goods or services are transferred to the customer
at an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or
services. The Company has generally concluded that it is the principal in its revenue arrangements, because it typically
controls the goods or services before transferring them to the customer. Revenue is recognised to the extent that it is
probable that the economic benefits will flow to the Company and the revenue can be reliably measured, regardless of when
the payment is being made. Revenue is measured at the fair value of the consideration received or receivable, taking into
account contractually defined terms of payment.

2.16 Sales other than power

Revenue from sale of goods and services in the course of ordinary activities is measured at the fair value of the consideration
receivable, net of trade discounts and volume rebates also excludes taxes or amount collected from customers in its capacity
as agent. Revenue is recognized when significant risks and rewards of their ownership are transferred to the buyer, recovery
of the consideration is probable, the associated costs and possible return of goods can be estimated reliably, there is no
continuing effective control over, or managerial involvement with, the goods and services, and the amount of revenue can be
measured reliably.

Interest income

Interest income from a financial asset is recognised when it is probable that the economic benefits will flow to the Company
and the amount of income can be measured reliably. Interest income is accrued on a time basis, by reference to the principal
outstanding and at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash
receipts through the expected life of the financial asset to that asset''s net carrying amount on initial recognition.

2.18 There are no Micro, Small and Medium Enterprises, as defined in the Micro, Small and Medium Enterprises Development
Act, 2006 (as amended) to whom the Company has dues on account of Principal amount together with interest and
accordingly no additional disclosures have been made. The ministry of micro, small and medium enterprise has issued an
office Memorandum dated August 26, 2008 which recommends that the Micro and Small Enterprises should mention in their
correspondence with its customers the Entrepreneurs Memorandum number as allocated after filing of the memorandum.
This has been relied upon by the auditors.

2.19 Financial risk management framework

The Company''s board of directors has overall responsibility for the establishment and oversight of the Company''s risk
management framework. The board of directors has established a Risk Management Framework which is reviewed and
monitored by the Risk Management Committee. The Committee reports regularly to the board of directors on its activities.
The Company''s risk management policies are established to identify and analyse therisks faced by the Company, to set
appropriate limits and controls and to monitor risksand adherence to limits. The Company, through its training and
established procedures,aims to maintain a disciplined and constructive control environment in which allemployees
understand their roles and obligations.

The Company''s activities expose it to Liquidity risk, and Business risks.

2.22 Disclosure of additional regulatory information in accordance with Paragraph 6(L)of General instructions for preparation of
Balance Sheet of Division II of Schedule III of the Act -

• Title deeds of all tangibles and intangibles disclosed are held in the name of the Company.

• The company does not have investments. Hence, fair value of investment properties as per report issued by registered
valuer is not applicable to the Company for the year.

• The Company has not revalued its Property, Plant and Equipment.

• The Company has not revalued its intangible assets (goodwill).

• The Company has not given any loans and advances in the nature of loans granted to promoters, directors, key
management personnel or any other related parties.

• There is no capital expenditure is pending for completion and whose completion is overdue when compared to its original
plan either as on March 31,2025 and March 31,2024.

• The Company has not made any expenditure towards intangible assets under development.

o The Company has not entered into any scheme of arrangement which has an accounting impact on the current or
previous financial year.

• The Company does not have any benami properties. No proceeding initiated under The Benami Transactions
(Prohibition) Act, 1988 (as amended) and rules made thereunder against the Company.

• The Company has no-borrowings from any bank for the year ended on March 31,2025, and March 31,2024.

• The Company has not been declared as a willful defaulter by any banks, financial institutions or other lenders.

• The Company has not entered any transaction with struck of companies either in the current year or in the previous year.

• The Company has not made any investment in associates, subsidiaries or joint ventures either in the current year or in the
previous year.

Reason for variance in financial ratios -

1. Debt - Equity Ratio: The company is a debt free company. Its not having any long term loans

2. Return on Equity Ratio, Return on Capital Employed & Net Profit Ratio: There is a considerable positive improvement in
all these ratios from the previous year.

2.24 The Company has not traded or invested in crypto currency or virtual currency during the current or previous financial year.

2.25 Previous year numbers have been regrouped or reclassified, where necessary and such reclassifications did not have a
material impact on the financial statements.

As per our report of even date attached For and on behalf of the Board

M/s JMT & Associates

Chartered Accountants

^FRN: 1°41^67W Sd/- (Leena Vivek) Director

Sd/-

Mr. Arun S Jain

P_art_ner Sd/- (Abhishek Kotulkar) Chairman & Director

M.No:043161

^{Place : Mumbai} Sd/- (Dr.V.S.R.Sastry) COO & Director

Date: 30.05.2025

UDIN: 25043161BMHYUQ5553

---

Mar 31, 2024

2.12 Provisions, contingent liabilities and contingent assets

Provisions for legal claims, service warranties, volume discounts and returns are recognised when the Company has a present
legal or constructive obligation as a result of past events, it is probable that an outflow of resources will be required to settle the
obligation and the amount can be reliably estimated. Provisions are not recognised for future operating losses. Provisions for
restructuring are recognised by the Company when it has developed a detailed formal plan for restructuring and has raised a valid
expectation in those affected that the Company will carry out the restructuring by starting to implement the plan or announcing its

main features to those affected by it.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by
considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one
item included in the same class of obligations may be small. Provisions are measured at the present value of management’s best
estimate of the expenditure required to settle the present obligation at the end of the reporting period. The discount rate used to
determine the present value is a pre-tax rate that reflects current market assessments of the time value of money and the risks
specific to the liability. The increase in the provision due to the passage of time is recognised as interest expense.

The measurement of provision for restructuring includes only direct expenditures arising from the restructuring, which are both
necessarily entailed by the restructuring and not associated with the ongoing activities of the Company.

Contingent liabilities are disclosed when there is a possible obligation arising from past events the existence of which will be
confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the
company or a present obligation that arises from past events where it is either not probable that an outflow of resources will be
required to settle or a reliable estimate of the amount cannot be made.

Contingent Assets are disclosed, where an inflow of economic benefits is probable.

2.13 Financial instruments

Financial instruments include Financial assets and financial liabilities that are recognized when an entity becomes a party to the
contractual provisions of the instrument. All financial assets are recognized as per the accounting standards as applicable to each
of those instruments.

2.14 Discontinued operations

During the year, there are no transactions relating to Discontinued operations, hence disclosure under Ind AS 105 notified under
the Accounting Standards is not applicable for the current and previous financial year.

2.15 Revenue from contracts with customers

Revenue from contracts with customers is recognised when control of the goods or services are transferred to the customer at an
amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services. The
Company has generally concluded that it is the principal in its revenue arrangements, because it typically controls the goods or
services before transferring them to the customer. Revenue is recognised to the extent that it is probable that the economic benefits
will flow to the Company and the revenue can be reliably measured, regardless of when the payment is being made. Revenue is
measured at the fair value of the consideration received or receivable, taking into account contractually defined terms of payment.

2.16 Other Income

Revenue from sale of goods and services in the course of ordinary activities is measured at the fair value of the consideration
receivable, net of trade discounts and volume rebates also excludes taxes or amount collected from customers in its capacity as
agent. Revenue is recognized when significant risks and rewards of their ownership are transferred to the buyer, recovery of the
consideration is probable, the associated costs and possible return of goods can be estimated reliably, there is no continuing
effective control over, or managerial involvement with, the goods and services, and the amount of revenue can be measured
reliably.

Interest income

Interest income from a financial asset is recognised when it is probable that the economic benefits will flow to the Company and the
amount of income can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding
and at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through
the expected life of the financial asset to that asset’s net carrying amount on initial recognition.

2.18 There are no Micro, Small and Medium Enterprises, as defined in the Micro, Small and Medium Enterprises Development
Act, 2006 (as amended) to whom the Company has dues on account of Principal amount together with interest and
accordingly no additional disclosures have been made. The ministry of micro, small and medium enterprise has issued an
office Memorandum dated August 26, 2008 which recommends that the Micro and Small Enterprises should mention in their
correspondence with its customers the Entrepreneurs Memorandum number as allocated after filing of the memorandum.
This has been relied upon by the auditors.

2.19 Financial risk management framework

The Company’s board of directors has overall responsibility for the establishment and oversight of the Company’s risk
management framework. The board of directors has established a Risk Management Framework which is reviewed and
monitored by the Risk Management Committee. The Committee reports regularly to the board of directors on its activities.
The Company’s risk management policies are established to identify and analyse therisks faced by the Company, to set
appropriate limits and controls and to monitor risksand adherence to limits. The Company, through its training and
established procedures,aims to maintain a disciplined and constructive control environment in which allemployees
understand their roles and obligations.

The Company’s activities expose it to Liquidity risk, and Business risks.

2.22 Disclosure of additional regulatory information in accordance with Paragraph 6(L)of General instructions for preparation of
Balance Sheet of Division II of Schedule III of the Act -

• Title deeds of all tangibles and intangibles disclosed are held in the name of the Company.

• The company does not have investments. Hence, fair value of investment properties as per report issued by registered
valuer is not applicable to the Company for the year.

• The Company has not revalued its Property, Plant and Equipment.

• The Company has not revalued its intangible assets (goodwill).

• The Company has not given any loans and advances in the nature of loans granted to promoters, directors, key
management personnel or any other related parties.

• There is no capital expenditure is pending for completion and whose completion is overdue when compared to its original
plan either as on March 31,2024 and March 31,2023.

• The Company has not made any expenditure towards intangible assets under development.

o The Company has not entered into any scheme of arrangement which has an accounting impact on the current or
previous financial year.

• The Company does not have any benami properties. No proceeding initiated under The Benami Transactions
(Prohibition) Act, 1988 (as amended) and rules made thereunder against the Company.

• The Company has no-borrowings from any bank for the year ended on March 31,2024, and March 31,2023.

• The Company has not been declared as a willful defaulter by any banks, financial institutions or other lenders.

• The Company has not entered any transaction with struck of companies either in the current year or in the previous year.

• The Company has not made any investment in associates, subsidiaries or joint ventures either in the current year or in the
previous year.

Reason for variance in financial ratios -

1. Debt - Equity Ratio: The company is a debt free company. Its not having any long term loans

2. Return on Equity Ratio, Return on Capital Employed & Net Profit Ratio: There is a considerable positive improvement in
all these ratios from the previous year.

2.24 The Company has not traded or invested in crypto currency or virtual currency during the current or previous financial year.

2.25 Previous year numbers have been regrouped or reclassified, where necessary and such reclassifications did not have a
material impact on the financial statements.

As per our report of even date attached For and on behalf of the Board

M/s RPSP Associates

Chartered Accountants

^{FRN: 148876W} Sd/- (Leena Vivek) Director

Sd/-

Ms. Radhika Prabhu

P_art_ner Sd/- (Rajan Pillai), Chairman & Directors

M.No:159484

^{Place : Mumbai} Sd/ - (Dr. S.V.S.Ram), CEO&COO

Date: 25.05.2024

UDIN: 24159484BKHCPX4468

---

Mar 31, 2015

I. Figures have been rounded off to the nearest rupee.

i. All figures are in Rupees. Paise have been rounded to nearest Rupee.

iii. Previous year figures are regrouped and rearranged wherever necessary.

iv. In the opinion of the management all current assets including loans and advances would in the normal course of business be realized to the value stated.

1. Quantitative details :

The company is engaged in the business of development of Software and Software Products which includes E- education content. The production and sale of Software is not capable of being expressed in any generic unit. Hence it is not possible to give the quantitative details of such sale and the information required under the relevant provisions of the Companies Act, 2013.

2. Foreign Currency Transactions :

The Company has earned a Foreign Exchange of Rs. 277,669,035 (Previous Year - Rs 452,319,558) during the year. The Company has incurred an expenditure of Rs. 227,711,850 (Previous Year - Rs. 432,884,775)

3. Segments :

The Company is engaged primarily in the business of Software Development IT/ITES, E-education software and accordingly there are no separate reportable segments as per Accounting Standard - AS 17 - Segment Reporting issued by ICAI.

4. Provisions :

Depreciation as per Companies Act : Rs. 31,994,643

Depreciation as per Income Tax Act : Rs. 18,025,558

Timing Difference : Rs. (13,969,085)

Provision for Deferred Tax : Rs. (4,532,968)

5. Earnings per Share :

Basic and Diluted Earnings per share is calculated by dividing the net profit attributable to the ordinary shareholders by the weighted average number of ordinary shares outstanding during the year and shown in the Profit and loss account.

6. Audit Fees for the year is Rs. 125,000 and Previous year Rs. 125,000.

7. 'Related Party' Disclosures as per Accounting Standard 18 :

1. Nature of related party and its relationship: There are no related party transactions during the year.

2. Nature and Volume of transactions carried out with the above related parties in the ordinary course of business for the year ended 31st March 2015.

Sr. No Particulars Related Party

1 Salaries & Other Amenities Nil

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Mar 31, 2014

I. Figures have been rounded off to the nearest rupee.

ii. Notes 1 to 18 consists of forming part of Balance Sheet and Profit and Loss account.

iii. All figures are in Rupees. Paise have been rounded to nearest Rupee.

iv Previous year figures are regrouped and rearranged wherever necessary.

v In the opinion of the management all current assets including loans and advances would in the normal course of business be realized to the value stated.

1. Quantitative details :

The company is engaged in the business of development of Software and Software Products which includes E- education content. The production and sale of Software is not capable of being expressed in any generic unit. Hence it is not possible to give the quantitative details of such sale and the information required under paragraphs 3, 4C of Part II of Schedule VI of the Companies Act, 1956.

2. Foreign Currency Transactions :

The Company has earned a Foreign Exchange of Rs. 452,319,558 (Previous Year - Rs 634,823,714) during the year. The Company has incurred an expenditure of Rs. 432,884,775 (Previous Year - Rs. 524,847,024)

3. Segments :

The Company is engaged primarily in the business of Software Development IT/ITES, E-education software and accordingly there are no separate reportable segments as per Accounting Standard - AS 17 - Segment Reporting issued by ICAI.

4. Earnings per Share :

Basic and Diluted Earnings per share is calculated by dividing the net profit attributable to the ordinary shareholders by the weighted average number of ordinary shares outstanding during the year and shown in the Profit and loss account.

5. Audit Fees for the year is Rs. 125,000 and Previous year Rs. 125,000.

---

Mar 31, 2013

I. Figures have been rounded off to the nearest rupee.

ii. Notes 1 to 16 consists of forming part of Balance Sheet and Profit and Loss account.

iii. All figures are in Rupees. Paise have been rounded to nearest Rupee.

iv. Previous year figures are regrouped and rearranged wherever necessary.

v. In the opinion of the management all current assets including loans and advances would in the normal course of business be realized to the value stated.

1. Quantitative details :

The company is engaged in the business of development of Software and Software Products which includes E- education content. The production and sale of Software is not capable of being expressed in any generic unit. Hence it is not possible to give the quantitative details of such sale and the information required under paragraphs 3, 4C of Part II of Schedule VI of the Companies Act, 1956.

2. Foreign Currency Transactions :

The Company has earned a Foreign Exchange of Rs . 642,212,501 (Previous Year - Rs 637,250,001) during the year. The Company has incurred an expenditure of Rs. 524,847,024 (Previous Year – Rs. 510,868,701)

3. Segments :

The Company is engaged primarily in the business of Software Development IT/ITES, E-education software and accordingly there are no separate reportable segm ents as per Accounting Standard - AS 17 - Segment Reporting issued by ICAI.

4. Provisions :

Depreciation as per Companies Act : Rs. 70,364,640

Depreciation as per Income Tax Act : Rs. 69,307,532

Timing Difference : Rs. (1,057,108)

Provision for Deferred Tax : Rs. (343,032)

5. Earnings per Share :

Basic and Diluted Earnings per share is calculated by dividing the net profit attributable to the ordinary shareholders by the weighted average number of ordinary shares outstanding during the year and shown in the Profit and loss account.

6. Audit Fees for the year is Rs. 125,000 and Previous year Rs. 125,000.

7. ''Related Party'' Disclosures as per Accounting Standard 18 :

1. Nature of related party and its relationship: There are no related party transactions during the year.

2. Nature and Volum e of transactions carried out with the above related parties in the ordinary course of bus iness for the year ended 31st March, 2013.

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Mar 31, 2011

1. Nature of related party and its relationship: There are no related party transactions during the year.

2. Nature and Volume of transactions carried out with the above related parties in the ordinary course of business for the year ended 31st March 2011.

S no Particulars Related Party

1 Salaries & Other Amenities Nil

The company has successfully completed divesture of its stake in its 51% held subsidiary Tractel Solutions Inc during the year ended 31st March 2011. (Previous Year Nil)

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Mar 31, 2010

1. Figures have been rounded off to the nearest rupee.

2. Schedule 1 to 10 consist of forming part of Balance Sheet and Profit and Loss account.

3. All figures are in Rupees. Paise have been rounded to nearest Rupee.

4. Previous year figures are regrouped and rearranged wherever necessary.

5. In the opinion of the management all current assets including loans and advances would in the normal course of business be realized to the value stated.

6. Quantitative details

The company is engaged in the business of development of Software Products. The production and sale of Software is not capable of being expressed in any generic unit. Hence it is not possible to give the quantitative details of such sale and the information required under paragraphs 3,4C of Part II of Schedule VI of the Companies Act, 1956.

7. The Company has earned a Foreign Exchange of Rs. 243,673,768 (Previous Year: Rs 16,66,32,344) during the year. The company has incurred an Expenditure of Rs.185,124,324 (Previous Year Rs.138,123,943)

8. The Company is engaged primarily in the business of software development, but during the current financial, year the company did only data entry works and accordingly there are no separate reportable segments as per Accounting Standard - AS 17 - Segment Reporting issued by ICAI.

9. Earnings per Share (AS-20)

Basic and Diluted Earnings per share is calculated by dividing the net profit attributable to the ordinary shareholders by the weighted average number of ordinary shares outstanding during the year and shown in the Profit and Loss account.

10. Audit Fees for the year is Rs 48,879 (Statutory Audit Rs 30,000, Tax Audit Rs 10,000 and Service Tax Rs8,879) and Previous year Rs 33,708 (Statutory Audit Rs 20,000, Tax Audit Rs 10000 and Service Tax Rs 3,708).